General Awareness

BUSINESS AND ECONOMY - January 2024

Jan 2024

Jul 31, 2026

Rajasthan grants rare-earth exploration licence

Rajasthan became the first Indian state to issue an exploration licence for rare-earth elements. The licensed area covers 207.63 square kilometres in the Navatala–Devigarh region, spanning Balotra district and Shergarh tehsil of Jodhpur district. The licence aims to strengthen exploration for strategically important minerals essential for high-technology manufacturing and defence. Officials emphasise environmental and community consultations will accompany the exploration, with regulatory oversight from central and state authorities. Industry experts see the move as a potential attractor for investments, strengthening domestic supply chains for critical minerals and reducing import dependence in line with national resource-security goals.

Licence area: 207.63 sq km in Navatala–Devigarh (Balotra, Shergarh).
First such licence granted by an Indian state for rare earths.
Strategic minerals for tech, defense supply chains highlighted.
Regulatory oversight includes central and state frameworks.
Potential investment and domestic supply-chain benefits.
Implications for India’s resource security strategy.

Jul 30, 2026

Axis Finance launches DRISHTI platform

Axis Finance Limited launched DRISHTI, an in‑house digital platform for retail and MSME lending. The platform aims to improve credit decisioning, underwriting efficiency, and risk oversight by combining statistical scorecards, digital workflows, and data‑driven insights for faster credit assessment. The first phase covers personal loans, business loans, loans against property, and Disha Home Loans. DRISHTI is designed to streamline operations, reduce turnaround times, and enhance governance. The launch reflects a broader trend of digital transformation in Indian finance, with lenders leveraging analytics to extend access to credit for small businesses and individuals.

DRISHTI is Axis Finance’s in‑house lending platform.
Targets retail and MSME lending with analytics.
Initial coverage includes personal, business, and property loans.
Aims to speed credit decisions and strengthen risk oversight.
Part of broader digital finance transformation in India.

Jul 29, 2026

RBI polymer banknote trials approved; ₹10 and ₹20 notes tested

On 27 July 2026, the Centre approved the Reserve Bank of India's proposal to conduct field trials of polymer banknotes in the ₹10 and ₹20 denominations. The plan envisages issuing up to 1 billion notes of each denomination for the trials, and these polymer notes would circulate alongside existing paper currency during the testing period. The aim is to test durability, security features and public acceptance before any wider rollout. Government officials emphasise that there is no plan to replace paper currency in the near term. The RBI and the Finance Ministry will monitor logistics, costs and environmental impact, informing future currency strategy.

Centre approved RBI polymer note field trials for ₹10 and ₹20 notes.
Up to 1 billion notes of each denomination planned for trials.
Polymer notes to circulate alongside paper currency during testing.
No immediate replacement of paper currency anticipated.

Jul 23, 2026

EnKash launches UPI-based meal card for employees

EnKash, a business payments and spend management platform, launched India’s first meal card that supports UPI-based payments in July 2026. Employees can use their meal card balance by scanning eligible UPI QR codes at participating food and grocery merchants across the country. The service integrates with existing digital payments infrastructure to simplify expense management for employers and staff. The launch is part of a broader push toward digitization of employee benefits and reimbursement processes, potentially reducing administrative overhead and improving transparency in employee spending.

EnKash unveils India’s first UPI-enabled meal card.
Accessible at participating food and grocery merchants nationwide.
Balances are paid via UPI QR code payments.
Aims to simplify employee benefits and expense management.

Jul 22, 2026

APEDA–UAE food processing partnership aims to export linkages

The Andhra Pradesh Economic Development Board partnered with the UAE to establish an export-oriented food processing cluster. The initiative aims to create a direct value chain connecting agricultural production with international markets. Dubai-based Floor Masters International announced a ₹100-crore processing unit in Chittoor district to process agricultural commodities for global markets. The collaboration could boost technology transfer, cold-chain development, and regulatory alignment for exports, focusing on fruits, vegetables, and spice value chains. The cluster intends to integrate farmers with processors and exporters to raise competitiveness and direct market access for Indian produce.

APEDA–UAE partnership to create export-oriented food processing cluster.
₹100 crore processing unit by Floor Masters International in Chittoor (Dubai-based company).
Aims to connect agricultural production with international markets.
Focus on fruits, vegetables and spices; potential tech transfer and cold-chain development.
Intends strong farmer–processor–exporter linkages to boost competitiveness.

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